Eastern Air Lines Raises $2.5 Million In Private Offering

Eastern Air Lines Group, Inc. has raised $2.5 million in a private stock offering.

In a filing with the SEC  last week, the company said that a funds were raised from a group of 22 investors, with a minimum investment size was $25,000.

Eastern will pay a $50,000 finders fee. An additional $300,000 will go to pay salaries of employees at Eastern.

The company has a contract to purchase 10 Boeing 737 aircraft, and signed a memorandum of understanding this week to purchase 20 Mitsubishi Regional Jets with 82 seats.

In May, the U.S. Department of Transportation sent a letter to the company asking for additional information before an operating certificate can be issued.